SME admin costing 4.7b

 SME admin costing economy £4.7bn

A new report claims that small firms are wasting 28 hours a week on red tape and that an extra £4.7bn could be added to the economy if business owners were able to put this energy into growing their company. Amongst other points, the report from Creative Auto-Enrolment and the CEBR highlighted the switch to auto-enrolment, which takes up to 103 days for employers to implement. Auto-enrolment typically costs between £8,900 and £12,600 to implement for organisations with one to 100 employees say Harris & Co chartered accountants, the specialist small business accountants.